thomasannie658

@thomasannie658

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The Libra token initially gained traction after receiving social media backing from Argentine President Javier Milei, whose now-deleted post on X helped propel the token’s market capitalization to over $4 billion before it crashed. At least eight insider wallets linked to the Libra team reportedly cashed out significant funds before the collapse.

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Bipartisan legislation passed in 2024 mandated a full ban on TikTok in the country if ByteDance fails to divest the platform. Lawmakers say ByteDance’s ties to China represent a national security risk, especially if user data is shared with the government.

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According to Bloomberg, Chinese officials may consider selling TikTok’s US operations to Elon Musk if the platform is forced to shut down in the country. While TikTok parent company ByteDance is still trying to fight the ban through legal means, the incoming Trump administration is seen as a wildcard.

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The United States Attorney’s Office revealed an additional charge for Terraform Labs co-founder Do Kwon following his extradition from Montenegro: money laundering conspiracy.

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While some international media outlets reported that salaries can now be paid entirely in Bitcoin and crypto, such interpretations misread the ruling. The judgment did not redefine wage laws; it merely recognized crypto tokens as a valid form of bonus payment within a specific employment contract.

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In a notable court decision, the Dubai Court upheld an employment contract stipulating that an employee’s bonus could be paid in the company’s native crypto tokens, in addition to other typical bonuses employees receive in the UAE, such as an annual ticket flight home or a school subsidy for children.

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Initially hosting major global crypto trading platforms like China-born Binance, Huobi and OKX (formerly OKEx), mainland China banned crypto exchanges in 2017.

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Alipay officially banned any Bitcoin-related transactions on its platform in 2019, highlighting its anti-crypto stance in alignment with the unfriendly crypto agenda of the Chinese government.

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“It doesn’t mean anything. They will disappear soon,” he said.

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However, on Jan. 10, 2024, the landscape for institutional investors shifted dramatically when the United States Securities and Exchange Commission approved spot Bitcoin exchange-traded funds (ETFs). While other nations, including neighboring Canada, had approved such ETFs years earlier, the US market is where the real capital lies.

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Institutional investors felt the on-ramp into the crypto markets was too steep. These corporations have dedicated compliance departments that need to follow strict rules and regulations, and many funds’ internal regulations prohibit the allocation of investments in specific products.

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The 2017 Bitcoin rally was mainly backed by retail investors. While the 2021 rally did receive some attention from major firms — such as Tesla, MicroStrategy, SpaceX, GrayScale and Square — that joined the party, institutional investors remained hesitant to step into the game.

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The expectation of a price surge post-halving may have become a self-fulfilling prophecy, as traders tend to hold tightly to their BTC during a halving, amplifying the impact on supply and potentially setting the stage for another rally.

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Whether the Bitcoin halving directly correlates with the price of BTC without considering external factors is sometimes the subject of debate. However, whether driven by the reduced supply or a “herd effect” rooted in anticipation from previous halvings, these events undeniably have created bullish sentiment.

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The pattern tends to be a short bull run that kicks off around a year before the halving, followed by an even more significant surge the year after.

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Crypto traders often look for patterns in market movements, using historical price behavior as a guide. While relying too heavily on past trends can be risky — since history doesn’t repeat itself exactly, but it often rhymes — Bitcoin’s halving events have shown a consistent, noticeable impact on its price.

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When Bitcoin was launched in 2009, miners received 50 BTC per block. The most recent halving, which occurred on April 19, 2024, reduced the block reward to 3.125 BTC, continuing this trend of diminishing supply growth. If the demand for Bitcoin remains at the same level or increases, the price of BTC will subsequently increase due to its updated scarcity.

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This is because the reward for mining a block is periodically halved in an event called the “halving.” The Bitcoin halving event occurs approximately every four years and is integral to Bitcoin’s economic structure.

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Bitcoin has a total supply of 21 million coins, programmed to be distributed through BTC mining. It’s estimated that by 2140, the entire supply of BTC will hit the market, even though over 90% of the supply is already in circulation.

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So, the bears face substantial pressure to drive Bitcoin’s price below $90,000 before the November options expiry to prevent call options from prevailing.

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